A recent glimpse into a frightening future occurred on August 1 when a computer glitch at Knight Capital Group Inc., that handled 11 per cent of all U.S. stock trading, was obliterated by an unproven algorithm. In less than an hour, the firm's new "program" bid for 150 stocks incorrectly. Immediately, rival computers traded against the bids and, by the end of the day, Knight had lost $440 million and had to be rescued. Clearly, the regulators must smarten up and impose Draconian measures to end this hyper trading-for-trading's-sake abuse of markets and investors.